Bestway Agencies Private Limited (BAPL), a wholly-owned subsidiary of Greaves Electric Mobility Private Limited, has announced a strategic collaboration with Akasa Finance Limited, one of the leading e-rickshaw financers in India. This collaboration marks a significant milestone in the electric three-wheeler segment, empowering customers across India to embrace cleaner and more affordable transportation solutions.
Through this partnership, Akasa Finance will offer the customers substantial financing of 80% or more on the ex-showroom price of the e-rickshaw. Akasa Finance's tailor-made financing solutions will enable BAPL’s growing customer base across cities and towns in Uttar Pradesh, Bihar, Assam, and West Bengal to choose loan tenures ranging from 18 to 21 months, ensuring a seamless and hassle-free ownership journey. This customer-centric approach aligns with BAPL’s ethos of delivering enhanced experiences and delighting customers.
Commenting on the partnership, Sanjay Behl, CEO and Executive Director, Greaves Electric Mobility Private Limited, said,
"Our shared vision of fostering last-mile electric mobility has paved the way for this collaboration and aims to provide financial solutions. We want to make erickshaws more accessible to a wider range of individuals.”
Mr. Rohit Mehta, Managing Director of Akasa Finance Ltd, remarked,
"We are excited to join forces with Bestway Agencies Private Limited, a name synonymous with quality and innovation in the electric rickshaw industry. Our partnership is more than just finance and manufacturing coming together; it's about creating a sustainable future and making green mobility a reality for countless individuals. By providing tailored financing solutions, we aim to empower entrepreneurs, drivers, and small businesses across the country."
Greaves Cotton Limited is a diversified multi-product and multi-location engineering Company with a rich legacy and brand trust of over 163 years and has established itself as a key player impacting a billion lives every day. The Company is a leading name in Fuel Agnostic Powertrain Solutions, E-Mobility, Aftermarket, Retail, Engineering Services & Finance. The Company’s diversification strategy is driven by customer centricity and sustainability. It is one of the few companies that has successfully developed the complete EV ecosystem in India. Greaves is powered by the purpose to touch a billion lives by 2030 and enable them to make sustainable transition to clean mobility.
Greaves Cotton Limited, (CIN – L99999MH1922PLC000987) Unit No. 701, 7th Floor, Tower 3 Equinox Business Park, LBS Marg, Kurla West, Mumbai 400070. +91-022-41711700
“This press release may include statements of future expectations and other forward-looking statements based on management's current expectations and beliefs concerning future developments and their potential effects upon Greaves Cotton Limited and its subsidiaries/ associates (“Greaves”). These forward-looking statements involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from our expectations include, amongst others: general economic and business conditions in India and overseas, our ability to successfully implement our strategy, our research and development efforts, our growth and expansion plans and technological changes, changes in the value of the Indian Rupee and other currency changes, changes in the Indian and international interest rates, change in laws and regulations that apply to the related industries, increasing competition in and the conditions of the related industries, changes in political conditions in India and changes in the foreign exchange control regulations in India. Neither Greaves, nor our directors, or any of our subsidiaries/associates assume any obligation to update any particular forward-looking statement contained in this release.”
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